Innohus AS – Expanding their business
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Buying or building a house is one of the largest investment people make during their lifetime, and a lot of time and effort goes into finding the right one. A house is not just a tangible asset, but also represents a place where people can live and build a home for themselves and their family. To understand what people deem as important when buying or building a house is therefore essential for the housing suppliers, so that they can better meet their needs with their products. The importance of understanding customer behavior and decisions has been vastly researched. Particularly, a lot of attention has been given to customer behavior and preferences towards products and services, something which has been valuable to companies when developing strategies for reaching the consumers. Despite the numerous studies done within this field, little is known about the purchase intention within the housing industry, especially when focusing on Norway. For this thesis, the main topic of exploration is: what is important for people who want to buy or build a house, and how this information can be utilized in the expansion of a business. In collaboration with a local housing supplier, Innohus AS, a marketing strategy has been developed for them. The focus of this study was framed by the existing literature on customer behavior and decision-making processes. An exploratory research design and a quantitate study was conducted to best achieve the aim and objectives of this thesis. From the collected data and analyses, recommendations have been made to Innohus AS on how they can expand their business. The recommendations include which customer segment Innohus AS should focus on, and what the consumers in this segment deem most important when buying or building a house.